THE GLADES OWNERS ASSOCIATION

Minutes for February 28, 2010 annual meeting

In attendance were Board Members, George McNitt, Gus Martell, Tom Holmes, Ken Patterson, and John Bridges. There were sixteen people representing thirteen homes in attendance.

The meeting was called to order at 2:05 PM by the President, George McNitt. He distributed a handout giving a brief overview of points of interest during 2009. He also pointed out the problem filling positions on the board and encouraged owners to volunteer. The President asked if there was anyone who wanted to nominate themselves. Bob Friess and Art Chambers nominated themselves after which McNitt declared the nominations closed.

Since there was a quorum of board members present, he asked for volunteers to count the ballots. Marilyn Chambers, Rich Nelson, and Gary Smith agreed to count the ballots and left the room with the ballots.

The minutes for the January 28, 2010 meeting had been reviewed by the board members and were approved by general acclamation.

The President then read the audit report done by Bill McCarthy, who was not present. There was quite a bit of discussion regarding the handling of a couple of checks, but overall the audit was positive.

The Treasurers report was presented by Ken Patterson. At 2009 year end the bank balance for Glades I was $24,442.14, and Glades II was $1176.76. He reported there is currently $36,000 in checking and $14,000 in reserves. He said there is currently $9,683 in outstanding Accounts Receivable representing 43 homeowners who have not paid their dues. He then presented the 2010 budget. Gus Martell motioned acceptance of the report, seconded by Tom Holmes and carried.

The only unfinished business had to do with the proposed racetrack which is now off the table. Mr. Easter and President McNitt had attended the City Council meeting to voice opposition on behalf of the Glades homeowners.

President McNitt gave an update on the purchase of a new Association laptop computer as well as a new laser printer. He reported that homeowner Paul Churchwell whose expertise is in computer hardware assisted in finding the proper equipment at the best price.

Ken Patterson motioned acceptance of the report which was seconded by Tom Holmes and carried.

President McNitt reported there are six foreclosures in our community and that two delinquent accounts are due for liens. He reported that Bay Landscaping is doing a great job and has received a lot of favorable feedback. He said that Swat is dong the chemical portion.

He complimented Bridges and Martell for working on the Glades II insurance, resulting in an annual savings of $2066 in premiums. This resulted in reducing the annual assessment to $75.00 for the Glades II portion of the assessments.

The results of the 65 ballots cast in the election of the board of directors was read citing the following board members, Gus Martell, Tom Holmes, Barbara Fraley, Bob Friess and Jan Schott.

At the recommendation of Ken Patterson and seconded by Tom Holmes, the meeting adjourned at 3:10 PM.

Respectfully Submitted,

John Bridges, Secretary